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Khind Holdings swings to profit in Q1

Khind Holdings Berhad said its first-quarter normalized net income was 970,630 ringgits, compared with a loss of 400,000 ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.2% from negative 0.5% in the year-earlier period.

Total revenue grew 13.3% year over year to 84.0 million ringgits from 74.1 million ringgits, and total operating expenses climbed 10.2% on an annual basis to 81.6 million ringgits from 74.1 million ringgits.

Reported net income totaled 1.4 million ringgits, or 4 sen per share, compared to a loss of 502,000 ringgits, or a loss of 1 sen per share, in the prior-year period.

As of May 20, US$1 was equivalent to 4.08 ringgits.